*The Finance Bill*, introduced in the Lok Sabha on February 1st, 2025, proposes significant amendments to India's direct and indirect tax laws for the financial year 2025-26. *_A Bill to give effect to the financial proposals of the Central Government for the financial year 2025-26_* *Key changes* include revised income tax rates and surcharge calculations, modifications to tax deduction at source (TDS) and advance tax provisions, new regulations concerning crypto-asset transactions, and amendments to various sections of the Income Tax Act, Customs Act, Central Excise Act, and Central Goods and Services Tax Act. *The bill also* introduces a new track and trace mechanism for specified commodities and repeals the Public Debt Act, 1944. *Several clauses* grant the Central Government and the Board the power to issue notifications and rules for implementing these changes. *[PDF] Finance Bill 2025:* https://www.indiabudget.gov.in/doc/Finance_Bill.pdf 💼